Noble Financial analyst Mark Reichman maintained a Buy rating on Sierra Metals (SMTS) on July 15 and set a price target of $2.75. The company’s shares opened today at $1.60.
According to TipRanks.com, Reichman is a 2-star analyst with an average return of 0.2% and a 43.5% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Great Panther Silver, Endeavour Silver, and Newrange Gold.
Currently, the analyst consensus on Sierra Metals is a Strong Buy with an average price target of $2.58, which is an 87.0% upside from current levels. In a report issued on July 16, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.
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Based on Sierra Metals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $55.56 million and GAAP net loss of $1.87 million. In comparison, last year the company earned revenue of $49.18 million and had a GAAP net loss of $1.72 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMTS in relation to earlier this year.
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Sierra Metals, Inc. engages in the production, exploration, and development of precious and base metals. It operates through the Peru and Mexico geographical segments. The Peru segment consists of Yauricocha Mine. The Mexico segment conssits of Bolivar and Cusi Mines. The company was founded on April 11, 1996 and is headquartered in Toronto, Canada.
